Case Study: NailseaSenior Debt
The development consisted of the conversion of a former school building into 5 residential units and the construction of three new bungalows on land to the rear. The converted units were designed to benefit from the character and nature of the original building and offered a variety of size and design of units.
Funding Requirement – The developer required senior debt but at a higher level than conventional debt funding.
Facility Provided – A stretched senior debt facility of £1,649,000 was arranged with a specialist lender. The facility was provided on competitive terms for the nature and level of funding provided. The funding structure arranged provided a high level of senior debt funding allowing the developer to successfully acquire and develop the scheme.